Sky Harbour Group Corp 8-K

What Happened

• Sky Harbour Group Corp (SKYH) filed an 8-K on July 6, 2026 disclosing that its indirect wholly‑owned subsidiary, Sky Harbour Capital II LLC (SH Capital II), entered into a Second Amendment to its Draw Down Note Purchase and Continuing Covenant Agreement and, on June 29, 2026, drew $20,000,000 under that amended Term Loan Facility. The borrowing (the “OPF Phase II Borrowing”) is intended to finance or reimburse costs for the second phase of construction at Miami‑Opa Locka Executive Airport (the OPF Phase II Project). JPMorgan Chase Bank, N.A. serves as administrative agent, sole bookrunner and sole lead arranger.

Key Details

• Date: Second Amendment executed and $20,000,000 borrowed on June 29, 2026.
• Replenishment requirement: Sky Harbour must contribute at least $20,000,000 in cash to one or more borrowers under the facility (the “Term Loan Facility Replenishment”); proceeds from the Series 2026 Revenue Bonds may be used to satisfy this.
• Collateral and structure: The OPF Phase II Project was not added to the borrowing base and the OPF Phase II Owner was not made a borrower. Borrowers agreed not to create a lien on Sky Harbour’s San José hangar campus or its equity/interests until the replenishment is complete.
• Guarantee: The Borrowers’ obligations under the amendment are guaranteed by Sky Harbour Group and Sky Harbour Holdings II LLC. The borrowing and replenishment obligations are subject to customary no‑default conditions under the Term Loan Facility.

Why It Matters

• This transaction increases the company’s funded debt by $20 million (drawn by a subsidiary) and establishes a required $20 million cash replenishment that Sky Harbour may satisfy using recently issued Series 2026 bonds. For investors, the amendment shows active financing to support the Opa Locka development while preserving the San José hangar campus from liens until replenishment is completed. The guarantee by the parent company means these obligations could affect Sky Harbour’s credit profile and liquidity position until satisfied.